Monday, 3 August 2015
Last updated 2 days ago
Jun 16 2010 | 1:36pm ET
Cowen Group has decided to shutter two of Ramius Capital’s multi-strategy hedge funds in the wake of continuing redemptions.
The firm—created by the merger of Ramius and boutique investment bank Cowen last year—plans to offer investors in the funds redemption options for the liquid portions of the Ramius Multi-Strategy and Ramius Enterprise funds, HFMWeek reports. The move comes after redemptions crossed a threshold that allows Unicredit, one of the funds’ largest investors, to redeem its $668 million investments with just 30 days notice.
The Italian bank has agreed to participate in the slower wind-down of the funds, however. Ramius, as the hedge fund arm of Cowen is still known, told the Securities and Exchange Commission it would begin returning investor capital in July and should complete the liquidation by the end of the year.
May 27 2015 | 2:15pm ET
Support Hedge Funds Care, also known as Help For Children (HFC), by participating in this year's raffle. All proceeds go to support HFC's mission of preventing and treating child abuse. Read more…